AUMI vs SLVX

AUMIBThemes Gold Miners ETF

SLVXFNicholas Silver Income ETF

In short

AUMI Gold miners with the blends stripped out. AUMI tracks an index of roughly 30 large miners that must earn at least 90% of revenue from gold, and it charges less than the typical fund in its group.

SLVX A rare active swing at the silver mining complex: the prospectus puts capital appreciation first and current income second, with roughly 50 names chosen by a manager instead of copied from an index. Active pricing comes with it.

Stated mandate

AUMI The Fund seeks to track, before fees and expenses, an index of companies active in the gold mining industry. It uses a passive/indexing approach to pursue that objective.

SLVX The actively managed ETF seeks capital appreciation as its primary objective and current income as its secondary objective.

Why people hold it

• AUMI The "pure" in the index name is a rule: members must generate at least 90% of revenue from gold mining, so copper-and-gold conglomerates and diversified diggers stay out.solactive.comthemesetfs.com
• A 0.35% fee undercuts the peer-group median and the category's household names, VanEck's GDX (0.51%) and iShares' RING (0.39%).
• Roughly 30 names, free-float weighted, rebuilt on a set schedule: a concentrated, rules-based way to own the diggers rather than the metal.solactive.com

• SLVX Income is written into the mandate, not bolted on: capital appreciation is the stated primary objective, current income the secondary one, with distributions on a recurring schedule.
• Actively managed, so the roughly 50 holdings reflect a manager's picks rather than a cap-weighted index rulebook. Most funds in this corner track a list.
• Plain 1940 Act ETF wrapper holding materials-sector equities, the same structure the large index-based miners funds use.

Worth knowing

• AUMI Thinly traded and small next to the group's giants, so bid-ask spreads can be wider and big orders can push the price.
• Concentrated by design and non-diversified: about 30 miners, one commodity, plus mine-level risks like costs, permits and politics.themesetfs.com
• Launched in December 2023, so the live track record is short, and cash comes back once or twice a year rather than monthly.

• SLVX The 1.16% expense ratio sits well above index rivals in the same theme: RING and SLVP each charge 0.39%. Active stock picking carries that gap.
• A small, thinly traded fund, so bid-ask spreads can run wider than on the category's heavyweights.
• Launched in 2026, so there is little history to judge, and the book stays concentrated in one narrow slice of the materials sector.

Full AUMI profile⁠

Full SLVX profile⁠